From a slightly longer-term view, AKAM sports a cumulative 10-day put/call volume ratio of 1.29 on the ISE, CBOE, and NASDAQ OMX PHLX (PHLX). This ratio ranks above 90% of other such readings taken during the previous 52 weeks, indicating that speculative investors have purchased puts over calls at a faster pace just 10% of the time.
In fact, the security's Schaeffer's put/call open interest ratio (SOIR) of 1.03 registers in the 100th annual percentile, as short-term options traders are more put-heavy now than at any other time in the last year.
This negative attitude is also on display among short sellers, as the number of AKAM shares sold short surged by more than 28% over the past two reporting periods. These pessimistic plays now account for 4.5% of the equity's float.
On the charts, AKAM gapped higher on the heels of its late-October earnings report, but the stock's positive momentum fizzled near the troublesome $40 level. Despite the recent pullback from this round-number area, the shares are still sitting on a respectable year-over-year gain of 29.5%.
This article by Elizabeth Harrow was originally published on Schaeffer's Investment Research.
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